The Stack Overflow podcast is back! Listen to an interview with our new CEO.

Questions tagged [canada]

For questions that relate to the financial laws, practices, and products of Canada.

Filter by
Sorted by
Tagged with
0
votes
0answers
50 views

TFSA withdrawl to make room for options deposit

If I stand to make $30,000 in capital gains on stock options that I hope to cash out in 2 years time, is it better to make room in my TFSA account by withdrawing TFSA funds the year before to make ...
0
votes
1answer
57 views

Relationship between points and air miles

Let us say I have Air Canada Aeroplan card, and if I shop at certain retailers, I accumulate points. Now let us say a particular flight on air Canada cost 100,000 miles. How to know how many points ...
0
votes
1answer
187 views

Does CDIC deposit insurance just protect the principal or the interest also?

Refer to this page on the CDIC website. It is not clear to me whether CDIC will just insure the principal that I put in my TFSA GIC or also the interest earned. i.e If I open a GIC with a bank at 2% ...
0
votes
1answer
987 views

Does an out of court settlements have to be declared as income?

Last year I was contacted by a company that wanted me to take down an open-source software project I was working on. The generally tone was that they wanted to give me 10k CAD to take down the project ...
0
votes
1answer
165 views

Canadian Citizen and Non Resident for tax purposes

I am a Canadian citizen was a non resident for tax purposes. If I sold stock shares in January 2016 and became officially a Canadian resident again in April 2016 (3 months after selling the stock), ...
0
votes
1answer
144 views

How to search efficiently for financial institutions, credit cards, etc (At least in Canada)?

I tried Google to seek high-rate savings accounts, which effected websites like https://www.highinterestsavings.ca/chart/, the broadness, newness, and reliability of which I doubt, because for example,...
-1
votes
5answers
985 views

What's the lowest risk highest reward I can invest in for 5 years?

Good day; Canadian here, 23. I'm looking to place money (at a rate of 100$-200$ per month) into savings, for 5 years (locked or not). I don't have a "specific" plan in 5 years. I just need to have ...
-1
votes
1answer
108 views

Why would parents, of a young adult without dependents, not profit from the young adult's Term Life Insurance?

Hereafter 'Young Adult' means someone of age 18-35 and shall be abbreviated YA. These answers unanimously declare (per p 332 of Personal Finance For Canadians For Dummies (4 ed, 2006, but note that ...
-1
votes
2answers
590 views

Any Tips for Renting Out All Rooms in House? [closed]

Looking to buy my first house by the end of the summer to be used strictly as an investment rental income property, general real estate holding. 5 bedrooms, and if I can re-develop the basement to ...
-1
votes
1answer
142 views

How can a Canadian get exposure to safe haven currencies?

How can a Canadian get exposure to a safe haven currency like CHF and JPY? I don't want a U.S. dollar denominated ETF. I want something in Canadian dollars, to save on conversion fees. Is this ...
-1
votes
1answer
609 views

What can you with no income do, if you want credit card limit increases? [closed]

Assume that one has 0 income, but regularly uses her credit card, always promptly pays the balance (eg from savings). I've heard from some banks that they generally eschew or decline credit card ...
-1
votes
1answer
71 views

Will life insurance be a problem if I go from full time to contract and back to full time?

Currently, I have life insurance through my employer. If I leave the company and become an independent contractor, then after 2 years go back to full time with another employer that also offers ...
-1
votes
1answer
368 views

Is the interest on money borrowed on margin in/for an RRSP considered tax deductible?

If I borrow cash in my margin trading account which happens to be an RRSP account, does the interest on that money become tax deductible from my income? I know if I put money in my RRSP from my salary ...
-1
votes
1answer
107 views

Tax free savings account

I know that this type of account does not exist in the US. For those who know, is there absolutely no tax deducted from my earnings when I invest in stocks? For example, if I turn 10000 to 1 million, ...
-1
votes
1answer
70 views

Interactive broker commissions for a Canadian trading US and Canadian options

What commission will I be charged if I trade US options from Canada using Interactive Brokers ? Details of my question below : My question has 2 scenarios Options for Stocks Options for ETFs For ...
-1
votes
1answer
90 views

Do I only have to pay income tax on capital gains?

In regards to a money lending business - if I lend a person $100 in exchange for $10 (+100), do I pay income tax on $110 or $10? I live in Ontario, Canada.
-1
votes
1answer
1k views

Is there a Fannie Mae and Freddie Mac for Canada

In the Open Yale Financial Markets Course, Prof Schiller says at 57:40 that Canada Housing Mortgage Corporation is same as Fannie Mae/Freddie Mac. Are there any differences? Can I buy CHMC shares ...
-1
votes
1answer
2k views

How often does the prime interest rate change

How often does the prime interest rate change? Will it only change when the new budget comes out or can it change anytime? I am interested to know this because all other interest rates (i.e mortgage ...
-1
votes
2answers
746 views

How mistake-proof is the process for receiving an Tangerine email money transfer?

I want to send about $500 to a local charity. Some electronic-payment options include Vogogo (fee: usually $1.75), PayPal (fee: about 2%), or Interac e-Transfer (your bank sets the fee: between $0 ...
-1
votes
0answers
22 views

Canada USA Sale Tax For Ecommerce Marketplace Sellers and Facilitator / Owner [on hold]

Hi I am web developer currently developing Multi seller Marketplace similar like ebay or amazon that would operate in Both Canada and USA. Buyer may be from USA or CANADA But all of sellers would be ...
-2
votes
2answers
141 views

How to deposit a cheque issued to an associate in my business into my business account?

A customer paid with a cheque made out to an associate in my business instead of the business name. How can I deposit this cheque into my business account ?
-2
votes
2answers
866 views

Why are mortgage interest and taxes considered tax deductible?

I have trouble understanding the rationale behind why certain things are tax deductible while other things are not. For example, I understand that RRSP contributions are tax deductible because I am ...
-2
votes
3answers
136 views

Why aren't REITs ETFs?

I'm assuming there are no ETF equivalents of REITs in Canada. Correct? Why are REITs income trusts, not ETFs? Why not operate a Real Estate ETF? Gill, Madura. Personal Finance, 4th Canadian Edition ...
-2
votes
1answer
95 views

What is the use of mortgage insurance premium paid to CMHC

When I bought my condo, because I could only put down 10%, so I had to pay CMHC (Canada Mortgage Housing Corporation) insurance premium (about 12 000 dollars I believe but I could be completely wrong ...
-2
votes
1answer
283 views

What corporation tax am I required to pay as an independent contractor?

Refer to this link at Canada Revenue Agency. I am unsure that for an Ontario resident who opens up a corporation, what corporation tax would I pay? Let's say I charge 60$/hr + 13% HST to my client. ...
-2
votes
1answer
145 views

What are simplest examples of buying or spending money to reduce income taxes in Ontario?

What personal (not corporate) tax examples like the quote underneath appertain to Ontarians? Please focus on examples that can appertain to as many Ontarians as possible, thus don't focus on high ...
-2
votes
1answer
113 views

Is it smart to take OSAP student loan right now?

I am going to grad school in Canada this September and have a chance to borrow ~$15000 at a rate of prime+1% (provincial loan) and prime+2.5% (federal). I would guess the 15000 is split 50-50 between ...
-2
votes
1answer
78 views

Pre-Authorized Direct Debit through online forms

This might be a cross-over between stackoverflow and money.stackexchange but I am wondering about the rules and regs of setting up a Pre-Authorized Direct Debit (PAD) through an online form. Say I ...
-4
votes
1answer
153 views

Do I need to repay back my line of credit in the form of monthly payments?

When I take a line of credit, do I start making monthly payments, like with a mortgage? Or do I make a lump sum (principal + interest) payment at the end of the term of the line of credit? Or is there ...